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Although Alfie and Buddy are the only buyers of Moonlight Unicorns, the market remains price-taking. The following diagram gives the individual demand curves of Alfie
Although Alfie and Buddy are the only buyers of Moonlight Unicorns, the market remains price-taking. The following diagram gives the individual demand curves of Alfie and Buddy, respectively. (Figures are drawn to scale. The y-scale of Buddy's demand diagram is the same as Alfie's.)
P -J Dmarket Q 0 1 2 3 4 5 6 7 8\fP P 5 DB DA Q Q 0 1 2 3 4 5 6 7 8 0 1 2 3 4 5 6Step by Step Solution
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